Tim Cook owns “some bitcoins”; should you?
A billionaire’s investment in any project should easily run into hundreds of thousand and probably millions. With that in mind; I’ll make a wild guess… Apple’s CEO Tim Cook owns at least TWO full bitcoins. That’s a wild but very conservative guess for a man presiding over a company worth more than the entire market capitalization of bitcoin and who sees cryptocurrency as an ‘interesting’ idea.
Cook’s revelation comes as a little surprise to me. For a guy as brilliant as him; it might be easy to ignore ‘the future of money’ but a bit harder to ignore the best performing ownable asset over the past decade. Hard to say why Apple’s CEO bought a cryptocurrency but whatever the reason is, it is probably same with other wealthy individuals who have added bitcoin to their portfolio over the past decade.
Too bad, his revelation didn’t rally the crypto market, probably because he didn’t confirm if his company will be adding any cryptocurrency to its balance sheet or showing any form of special support for crypto products. But Tim Cook adding a cryptocurrency to his portfolio is actually a big deal.
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Cryptocurrency just like most other investments are very risky ventures, there’s unarguably a more pronounced risk when it comes to cryptocurrency. The often outrageous fluctuations and nerve-spinning volatility gives it a good place amongst ‘a thousand ways to die in the west’…that wasn’t meant to scare you!
But whether you should consider bitcoin and cryptocurrency investment just because some popular names are invested in it is simply not advised. These popular people are regarded as smarter and more informed; but, making your own research and personal considerations have worked even better most times.
Blockchains are one of the most interesting inventions of the past couple of decades. The ability it poses and its numerous applications are certainly one to look out for. Cryptocurrencies aside, blockchains are one of the most advanced computing protocols which is unsurprisingly gaining mainstream attention.
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An immutable store of data, a flexible network for building almost anything on the internet, the list is endless. Venturing into the crypto space is as good as swimming in the oceans of blockchain technology, getting used to what has been a tangible offset of traditional ways of data storage, internet, finance…to mention a few. Regardless of the risks, these features should make you give it a try.
Even if the technology fails to impress you, it is hard to ignore the fact that cryptocurrency investments makes mouth-watering returns. For investments in the last decades, cryptocurrencies have made the biggest return on investments, posting up to 20X gains.
The ‘fast money’ idea is surely an unhealthy one and an investor who really wish to be successful in the crypto space must first get rid of this orientation and embrace the technology and avoid being over expectant of their crypto bags. Regardless, there is an already proven fortune in cryptocurrency investment, but just like every good thing, this take a lot of time and requires some good level of patience and persistence.
To spice it all up, cryptocurrencies come with some enticing level of freedom and privacy in management of your finance and performance of some core financial activities. Probably this doesn’t sound so clear to you, but here in the crypto space ‘you are your own bank’, guess that sounds better! You don’t need a stock broker to help you invest in cryptocurrencies, the simplicity makes it possible for a total noob to invest in cryptocurrency and manage this investment.
Now should you invest in bitcoin or any other cryptocurrency? Personally; I’d say yes, but that could be a very wrong source for your answers. You probably already own a few cryptocurrencies for different reasons…making some profits is a common one. Regardless of deep you are invested or will be investing in cryptocurrency, understanding the basics and making informed decisions is paramount. Albeit tons of compelling shills on the internet, an informed investor is healthier for the project and other investors too.
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